Kravis and Roberts first cousins; Kravis’ mother and Roberts’ father were siblings. Both learned the energy business from their fathers. Roberts’ father was an oil broker in Houston who took his son to business meetings; Kravis’ father was a petroleum engineer in Tulsa. The Kravis and Roberts families spent summers and holidays together, and the future lions of Wall Street swear they haven’t had an argument since they were 8 years old.1 The last one involved who would get to ride Kravis’ new bicycle first. [Barron's]
1. Obviously when one pictures an 8 year-old Henry Kravis one pictures Kravis’s current face/head on a child’s body.↩
We know every investor out there wants a chance to get a piece of Henry Kravis and George Roberts. But, KKR’s latest public filing, in which it seeks to sell $500 million worth of shares on the NYSE, is littered with “risk factors” that might make you a bit skittish.
The most significant come from Washington in the form of new tax policy, increased regulation and ongoing investigations by the Justice Department. Read more »
LAST month, as Henry R. Kravis, the co-founder of Kohlberg Kravis Roberts & Company, and his wife, Marie-Josée, took their seats at the Water Cube in Beijing for a session of synchronized diving at the Olympics, they quickly recognized a couple sitting nearby: Stephen A. Schwarzman, the co-founder of the Blackstone Group, and his wife, Christine Hearst.
For a brief moment, there was an awkward pause as the longtime rivals took stock of each other. Then both men cracked smiles, and Mr. Schwarzman extended his hand, congratulating Mr. Kravis on his latest move: an attempt to take K.K.R. public despite a stock market mired in uncertainty and fear.